member firm

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Member firm

Used for listed equity securities. Brokerage firm that has at least one membership on a major stock exchange even though, by exchange rules, the membership in the name of an employee and not of the firm itself.

Member Firm

A broker-dealer firm in which at least one of the principal officers is allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. There are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats, which may cost up to $1 million each, and which may be bought or sold to different firms. Most exchanges do not recognize member firms, only individual members; that is, they consider members to be the brokers or dealers on the floor, rather than the firms they represent.

member firm

A securities firm with officers or partners who are members of an organized securities exchange. National brokerage firms are generally members of a number of organized exchanges. Organized exchanges have established standards of conduct and financial conditions. See also ABC Agreement.
References in periodicals archive ?
Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world.
In the Middle East and South Asia (MESA) region, member firms reported aggregated revenue growth of 17.2pc (in local currencies) for the fiscal year.
WINNERS have emerged at the 2018 NSE CEO Awards, a platform put together by the Nigerian Stock Exchange (NSE) since 2012 to reward and motivate listed companies, dealing member firms, fund managers and issuing houses to attain higher levels of corporate governance, compliance and performance that reinforce investor confidence in the Nigerian capital market.
Over one hundred delegates from KPMG member firms across the MESA region, as well as members of KPMG's Global and Europe, Middle East and Africa (EMA) leadership teams are coming together to discuss regional strategy.
The protocol lets representatives of member firms take a limited amount of client information when leaving one protocol member firm for another.
KPMG in the Middle East and South Asia (MESA) reported 12.7 per cent growth in aggregated revenues of member firms across the region for the fiscal year ended 30 September 2017.
/ Group companies/member firms working under the common brand name, should have neither failed to perform on any agreement during the last three years, as evidenced by imposition of a penalty by an arbitral or a judicial pronouncement or arbitration awarded against the Applicant or its Affiliates or its member firms, nor been expelled from any project or agreement nor had any agreement terminated for breach by such Applicant or its Affiliates or member firms Opening date : 19 Dec 2017
Established in 2013 by US member firm Andersen Tax LLC, Andersen Global now has more than 2,500 professionals worldwide and a presence in over 78 locations through its member firms and collaborating firms.
Since the beginning of 2017, the Building Congress has added 125 new member firms to its ranks.
With more than 155 Member Firms in 40 states, the United Kingdom, and the United Arab Emirates, M Financial Group is one of the nation's financial services design and distribution companies.
One of the things that makes working with Your House Counsel and its member firms so rewarding is the caliber of people in the organization.
Also noteworthy about M's business model is our governing structure: We're owned solely by the member firms. They are the company's stockholders; we have no outside investors.

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